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<br />200700035
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<br />received in payment of Rents and to deposit the same in any account selected by Lender; (b) to give
<br />receipts and releases in relation thereto; (c) to institute, prosecute and/or settle actions for the recovery of
<br />Rents; (d) to modify the terms of any Leases including terms relating to the Rents payable thereunder; ( e)
<br />to cancel any Leases; (f) to enter into new Leases; and (g) to do all other acts and things with respect to
<br />the Leases and Rents which Lender may deem necessary or desirable to protect the security for the
<br />Obligations. Any Rents received shall be applied fIrst. to pay all Expenses and next in reduction of the
<br />other Obligations. Grantor shall pay, on demand, to Lender, the amount of any defIciency between (i) the
<br />Rents received by Lender, and (ii) all Expenses incurred together with interest thereon as provided in the
<br />Loan Agreement and the other Loan Documents.
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<br />Section 7.5 Taking Possession or Control ofthe Propertv.
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<br />As a matter of right without regard to the adequacy of the security, and to the extent permitted by
<br />Law without notice to Grantor, Lender shall be entitled, upon application to a court of competent
<br />jurisdiction, to the immediate appointment of a receiver for all or any part of the Property and the Rents,
<br />whether such receivership may be incidental to a proposed sale of the Property or otherwise, and Grantor
<br />hereby consents to the appointment of such a receiver and agrees that such receiver shall have all of the
<br />rights and powers granted to Lender pursuant to Section 7.4. In addition, to the extent permitted by Law,
<br />and with or without the appointment of a receiver, or an application therefor, Lender may (a) enter upon,
<br />and take possession of (and Grantor shall surrender actual possession of), the Property or any part thereof,
<br />without notice to Grantor and without bringing any legal action or proceeding, or, if necessary by force,
<br />legal proceedings, ejectment or otherwise, and (b) remove and exclude Grantor and its agents and
<br />employees therefrom.
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<br />Section 7.6 Mana~ement of the Property.
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<br />Lender may enter into and upon and take possession of all or any part of the Property, and may
<br />exclude Grantor, and all persons claiming under Grantor, and its agents or servants, wholly or partly
<br />therefrom; and, upon obtaining possession of the Property or upon the appointment of a receiver as
<br />described in Section 7.4, Lender, Trustee or the receiver, as the case may be, may, at its sole option, (a)
<br />make all necessary or proper repairs and Additions to or upon the Property, (b) operate, maintain, control,
<br />make secure and preserve the Property, and (c) complete the construction of any unfInished
<br />Improvements on the Property and, in connection therewith, continue any and all outstanding contracts
<br />for the erection and completion of such Improvements and make and enter into any further contracts
<br />which may be necessary, either in their or its own name or in the name of Grantor (the costs of
<br />completing such Improvements shall be Expenses secured by this Deed of Trust and shall accrue interest
<br />as provided in the Loan Agreement and the other Loan Documents). Lender, Trustee or such receiver
<br />shall be under no liability for, or by reason of, any such taking of possession, entry, holding, removal,
<br />maintaining, operation or management, except for gross negligence or willful misconduct. The exercise
<br />of the remedies provided in this Section shall not cure or waive any Event of Default, and the
<br />enforcement of such remedies, once commenced, shall continue for so long as Lender shall elect,
<br />notwithstanding the fact that the exercise of such remedies may have, for a time, cured the original Event
<br />of Default.
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<br />Section 7.7
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<br />Uniform Commercial Code.
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<br />Lender may proceed under the Uniform Commercial Code as to all or any part of the Personalty,
<br />and in conjunction therewith may exercise all of the rights, remedies and powers of a secured creditor
<br />under the Uniform Commercial Code. Upon the occurrence of any Event of Default, Grantor shall
<br />assemble all of the Accessories and make the same available within the Improvements. Any notifIcation
<br />required by the Uniform Commercial Code shall be deemed reasonably and properly given if .sent in
<br />accordance with the Notice provisions of this Deed of Trust at least ten (10) days before any sale or other
<br />disposition of the Personalty. Disposition of the Personalty shall be deemed commercially reasonable if
<br />made pursuant to a public sale advertised at least twice in a newspaper of general circulation in the
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<br />Hall County, Nebraska
<br />Error! Unknown document property name.
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